21 Bisbee Ct, Santa Fe, NM 87508

Building Details

Year Built 2003 More

Listing Agency: Colliers - NM

Listed By: Joe Romero · License NM #13670 Show Phone

Source: Carnm.resimplifi

Added: Feb 24 Changed: Oct 26 Last Checked: Nov 10 at 5:01AM

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Investment Insights

Based on property information with market context.

Located at 21 Bisbee Ct, Unit G in Santa Fe, NM 87508, this industrial condo offers a versatile live/work space. The property features a 12’ roll-up door, signage, and high ceilings in the warehouse area. The unit spans approximately 2,557 square feet and includes a kitchenette, shower, and a reception/showroom area. Situated on a 0.60-acre lot, the property has a parking ratio of 1.96 spaces per 1,000 square feet. The property is suitable for various business needs and presents a lucrative investment opportunity with a cap rate of 6.61%, generating steady income and offering potential for further growth.

Key Highlights

• 6.61% Cap Rate indicates a strong income‑generating investment.
• Versatile live/work space suitable for various business needs.
• Functional layout with 12’ roll‑up door, high ceilings, and warehouse space.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$26,925

Cap Rate

6.19%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$538,500 $538.5K

Cap Rate 7%

$384,643 $384.6K

Cap Rate 9%

$299,167 $299.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,557 SF

Gross rent

$46.0K $18.00/SF

− Vacancy

−$4.6K −$1.80/SF

EGI

$41.4K $16.20/SF

− OpEx

−$14.5K −$5.67/SF

NOI

$26.9K $10.53/SF

Area

Santa Fe County, NM

Vacancy

10.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$538,500

Cap Rate 7%

$384,643

Cap Rate 9%

$299,167

Alternative Uses

Best Use

Flex RnD

$384.6K

$336.6K – $448.8K (±1% cap)

NOI $26,925 @ 7.0% cap · market cap 6.19%

Second Best

Industrial

$181.6K

$158.9K – $211.9K (±1% cap)

NOI $12,715 @ 7.0% cap · market cap 2.92%

Theoretical Best

Office A

$694.3K

$607.5K – $810.1K (±1% cap)

NOI $48,603 @ 7.0% cap · market cap 11.17%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Mar Oil & Gas ... Gas Company Counterpoint Realty LLC Real Estate Agency The Color Bar Hair Salon Santa Fe Cider ... Production Facility Pinon Properties and Real ... Real Estate Agency

Suggested Use

Top Pick Dental Office Restaurant Pharmacy Law Firm Spa & Massage Center Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

158

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 87508, NM

19,156

Population

7,782

Households

2.5

Avg Household Size

54

Median Age

50%

College-Educated

90%

High-School Grad

169.2 sq mi

ZIP Area

113

Density / Sq Mi

$96,767

Median Household Income

$43,595

Median Earnings

$1,502

Median Rent

$529,000

Median Home Value

Market

Average Price Trend$/SF for Flex space in Santa Fe, NM

$312 Jul

$285 Aug

$245 Sep

$236 Oct

Properties on Market for Flex space in Santa Fe

Jul

Aug

Sep

Oct

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Industrial condo with live/work space, high ceilings, and steady income.

Where is this flex space located?

The property is located at 21 Bisbee Ct Santa Fe, NM.

What is the asking price?

The asking price for this property is $435,000.

What are key features of this property?

This property features: 6.61% Cap Rate indicates a strong income‑generating investment.; Versatile live/work space suitable for various business needs.; Functional layout with **12’ roll‑up door, high ceilings, and warehouse space.**